Downstream

Solo Oil sells stake in Burj Petroleum Africa

Solo Oil has signed a sale and purchase agreement (SPA) to end its 20 per cent investment in Burj Petroleum Africa Limited (Burj), a company that applied for various undeveloped fields in the 2014 Nigerian Marginal Fields Bid Round

The subsea market in 2019 will experience y-o-y growth for the first time since 2014, but the positive outlook is vulnerable to any significant decline in oil prices over the next few years, according to energy research and consulting firm Rystad Energy

McKinsey Energy Insights states that new refinery capacity led by greenfield projects in Asia and the Middle East is expected to have a negative impact on global hub refining utilisation as early as 2022